SHUNTEN INTL received a discount of approximately 20% from Chairman Zhang Shaohui to increase the full acquisition offer
SHUNTEN INTL and the offeror Leading Virtue jointly announced plans to acquire approximately 734 million shares on September 12, 2025, for a total consideration of HKD 17.61696 million. Mr. Zhang Shaohui acquired 32 million shares from Hammer Capital Consulting for HKD 768,000. The shares involved in this transaction account for 24.65% of the company's issued share capital. The offeror is required to make a mandatory conditional cash offer for all issued shares, with an offer price of HKD 0.024 per share, representing a discount of approximately 20% to the market price
According to the Zhitong Finance APP, SHUNTEN INTL (00932) and the offeror Leading Virtue jointly announced that on September 12, 2025, the offeror will acquire a total of approximately 734 million shares from Prosper Rich and Hammer Capital Consulting for a total consideration of HKD 17.61696 million; Mr. Zhang Shaohui will acquire 32 million shares from Hammer Capital Consulting for a consideration of HKD 768,000. The sold shares (approximately 766 million shares in total) account for about 24.65% of the company's total issued share capital. The total consideration for the sold shares is HKD 18.38496 million, equivalent to approximately HKD 0.024 per sold share.
Immediately following the completion and on the date of this joint announcement, the offeror and its concert parties will hold interests in 1,516,534,033 shares (representing 48.80% of the total issued shares). According to Rule 26.1 of the Takeover Code, the offeror must make a mandatory conditional cash offer for all issued shares (excluding those already owned by the offeror and its concert parties and/or agreed to be acquired).
In accordance with the Takeover Code, Fali Securities will represent the offeror to make the offer based on the following criteria: HKD 0.024 in cash per offer share, which is a discount of approximately 20.00% to the closing price of HKD 0.030 per share reported on the Stock Exchange on the date of this joint announcement.
As of the date of this joint announcement, Mr. Zhang Shaohui is the sole shareholder and sole director of the offeror. The offeror is primarily engaged in investment holding. Mr. Zhang Shaohui serves as the chairman and executive director of the board
